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20120902
20120902
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used to describe what the united states has become. he used the word bhutan me. he said the u.s. is now a bhutan me. >> host: a combination of bhutan me and -- >> guest: it's a less excitable work -- word that there are few bhutan amaze amaze around the world characterized by a tremendous concentration of wealth at the top and a wealth that is greater than the bottom 90% of that is what he used. he said that in who is going to buy products and that is who is going to drive the economy, the middle-class is not as important as it once was. >> host: using the book for people who make less than $200,000, they don't count. >> guest: in the eyes of the hedge fund people, these are headphone -- hedge fund people talking. and you can understand where they're coming from. the middle class in china dwarfs the middle class now. the middle class in india, brazil, you name it. and it is why they say the u.s. is irrelevant. >> guest: there are is looking for growth. that is the heart of the whole financial aristocracy. they want growth in stocks and they want the companies that have the multinational
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